339.2501 Definitions. Sec. 2501. As used in this article: (a) “Associate broker” or “associate real estate broker” means an individual who meets the requirements for licensure as a real estate broker under this article and who is licensed as an associate real estate broker under section 2505 to provide real estate brokerage services as an […]
339.2502 Board of real estate brokers and salespersons; creation. Sec. 2502. The board of real estate brokers and salespersons is created. History: 1980, Act 299, Imd. Eff. Oct. 21, 1980 Popular Name: Act 299
339.2502a Real estate broker, associate real estate broker, and real estate salesperson; license; term; renewal; relicensure; licensure following revocation. Sec. 2502a. (1) The department by rule shall establish the term of the license cycle for a license for a real estate broker, associate real estate broker, and real estate salesperson granted under this article. The […]
339.2502b Owner of real estate engaging in sale of real estate as principal vocation; license as real estate broker required. Sec. 2502b. (1) Unless the owner engages the services of a real estate broker in connection with those sales, an individual who is the owner of real estate must obtain a license as a real […]
339.2503 Exemptions. Sec. 2503. (1) This article does not apply to a person that, as owner, sells or offers for sale a detached, single family dwelling, duplex, triplex, or quadruplex, that has never been occupied and that was built by the person while licensed under article 24. This article does not apply to an owner […]
339.2504 Real estate broker’s license; prelicensure classroom courses; suspension or revocation of approval; prohibited representations; conduct of prelicensure course; violation of subsection (4); penalties; real estate clinic, meeting, course, or institute; sponsoring studies, research, and programs; contract with statewide real estate association. Sec. 2504. (1) Both of the following must be met before an applicant […]
339.2504a Continuing education. Sec. 2504a. (1) Subject to subsection (7), a licensee must successfully complete at least the following number of hours of eligible continuing education courses in each license cycle: (a) Beginning with the license cycle after the effective date of the rules promulgated under subsection (2)(e), the number of hours determined by the […]
339.2505 Real estate broker’s license; application; contents; execution of application; effect of certain convictions; place of business; branch office license; signature; proof; examination; experience. Sec. 2505. (1) An individual or business entity that is applying for a real estate broker’s license shall file an application with the department. All of the following apply to an […]
339.2506 Real estate broker, associate real estate broker, associate real estate broker, or real estate salesperson; license and pocket card or temporary license required; delivering or mailing real estate salesperson’s license to broker; custody and control of license; notice of change of location; notice of suspended or revoked license; forward of pocket card and license […]
339.2507 Discharge or termination of real estate salesperson; delivering or mailing salesperson’s license to department; application for transfer of license; communication; performing regulated acts without license prohibited; limitation. Sec. 2507. (1) If a real estate salesperson is discharged or terminates employment with a real estate broker by giving the employer a written notice of the […]
339.2508 Real estate broker’s license; entities to which issued; authorized acts; associate real estate broker’s license; transferability; suspension; issuance of new license; death or disability of sole principal associate broker. Sec. 2508. (1) The department may issue a real estate broker’s license to an individual, sole proprietorship, partnership, association, corporation, limited liability company, common law […]
339.2509 Associate real estate broker’s license; issuance to principal and nonprincipal; limitation. Sec. 2509. (1) The department may issue more than 1 associate real estate broker’s license to principals of a real estate broker. (2) An individual shall not hold more than 1 associate real estate broker’s license as a nonprincipal, but an individual may […]
339.2510 Real estate salesperson; commission or valuable consideration. Sec. 2510. (1) A real estate salesperson shall not accept a commission or valuable consideration for the performance of an act specified in this article from any person other than the real estate broker that employs the salesperson. (2) If an individual earned commissions or other income […]
339.2511 Plan or scheme for selling or promoting sale of real estate. Sec. 2511. A plan or scheme involving a lottery, contest, game, prize, or drawing shall not be used by a real estate broker or real estate salesperson for the sale or promotion of a sale of real estate. However, a game promotion as […]
339.2512 Prohibited conduct; penalties; filing complaint under article 5. Sec. 2512. (1) A licensee that commits 1 or more of the following is subject to the penalties set forth in article 6: (a) Except in a case involving property management, acts for more than 1 party in a transaction without the knowledge of the parties. […]
339.2512a Action for collection of compensation for performance of act or contract; allegation and proof. Sec. 2512a. A person engaged in the business of, or acting in the capacity of, a person required to be licensed under this article, shall not maintain an action in a court of this state for the collection of compensation […]
339.2512b Actions not constituting participation in real estate transaction or in payment of real estate commissions. Sec. 2512b. The following actions do not constitute participation in a real estate transaction or in the payment of real estate commissions: (a) As an owner or an authorized agent of the owner, offering an existing tenant of the […]
339.2512c Property management performed by real estate broker. Sec. 2512c. (1) Except as otherwise provided in this section, all property management duties, responsibilities, and activities performed by a real estate broker and his or her agent engaged in property management shall be governed by and performed in accordance with a property management employment contract. (2) […]
339.2512d Service provision agreement; duties; services; misleading public prohibited; waiver of services in limited service agreement. Sec. 2512d. (1) A licensee that is acting under the terms of a service provision agreement shall perform the duties described in subsection (2). A real estate broker may authorize a designated agent to represent the client, if that […]
339.2512e Advertisement. Sec. 2512e. (1) Except as provided in subsection (2), any advertisement to buy, sell, exchange, rent, lease, or mortgage real property or a business opportunity by a real estate broker shall include the broker’s name or the name under which the broker is conducting business; shall include the broker’s telephone number or street […]
